Scott,
Would you mind shining some light on the questions below?
ME Aviation Services (Johan Claasen) is listed as the Seller of the L-1011s and will be issued approximately 6,730,769 common shares at a value of $0.52 per share. When do you expect this transaction to close and will there be any synergies between TMPS and Johan Claasen or the Claasen Group?
The transaction is currently held up due to liens that were discovered during the title search. The liens are the same attachments that were previously cleared by the FAA but were not cleared by the International Registry for Aircraft which is based in Ireland. The Irish authorities are supposed to meet on 11 December to determine whether or not the liens can be released without further legal process. Mr. Claasen will be a tremendous resource for TMPS has he is a well respected professional in our field with extensive relationships internationally.
Obviously SANTIAGO BUSINESS CO. INTENATIONAL LTD converting shares come April 2018 in the event the note is not paid or refinanced would be very detrimental/dilutive. What is being done to remedy this situation? In your opinion, will Johan Eliasch work with you to refinance the note or is the plan to use the EQUITY FINANCING AGREEMENT WITH GHS FINANCING, LLC?
Mr. Eliasch has a vested, long term interest in the company.
The Company terminated a material contract on November 22, 2017, what potential contracts are in the works to replace the shortfall?
We are actively pursuing contracts related to the L-1011 acquisition as well as additional ultra long range business jet management contracts such as the one that we terminated.
How confident are you that the L-1011 initiative will payoff and how quickly can you ramp up? Are you already in talks with customers that may utilize the L-1011s?
we believe that the market for contractor owned and operated aircraft that are capable of aerial refueling operations is legitimate and worth the resource allocation that we are initiating.
The announcement of new contracts has been quite stagnant, can you provide any visibility or potential backlog for 2018?
We are constantly bidding on government contracts in the USA and internationally. Unfortunately the sales cycle for these contracts is quite long and tedious. Again, we are concentrating on the L-1011 air to air refueling market as well as additional special mission aircraft operations in the USA and Europe.
Finally, the lack of working capital is a concern and the potential to mitigate that with equity is a concern as well because of dilution, can you provide any color or comfort to how 2018 may pan out?
Selling equity to raise working capital is not ideal. Any equity raise will be done with the proceeds allocated to specific program or contract in order to enhance the profitability on an existing program or to enhance our opportunity to win the contract.
I will say that TMPS looks very intriguing if and when some of these hurdles are overcome. We are excited for what TMPS can potentially bring to the table in capital appreciation.
We are enthusiastic about the future performance of the company and we are getting there slowly but surely.
